European shares were subdued on Monday after the benchmark index posted its biggest weekly jump since March, while Ryanair hit a one-month high following record annual profit.
The pan-European index edged up 0.1% by 0810 GMT after jumping more than 3% last week, as investors cheered a string of robust earnings and signs of an end to monetary policy tightening by major central banks.
Ryanair soared 5.8% after Europe’s largest airline by passenger numbers forecast a record annual profit and promised a regular dividend pay, lifting the travel and leisure sector index up 1.3%.
Telecom Italia gained 2% on approving the 19 billion euro ($20 billion) sale of its fixed-line network to US private equity firm KKR.
Real estate stocks lead European shares to biggest weekly gain
Melrose Industries rose 3.6%, after the British aerospace supplier said its unit GKN Aerospace Engines business has signed agreement with GE Aerospace expanding long-term partnership.
Evotec dropped 2.6% after RBC downgraded the German biotech firm’s stock to “Sector perform” from “Outperform”.
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